For Sale
Contact for pricing
1337 S Main St, Keller, TX 76248
Retail space
Property Size5,546 SF
Price / SF$288.50
Days on Market2019
Property Features for 1337 S Main St
General Information
Standard status
Active
Size
5,546 SF
Property subtype
RETAIL
Site & Location
Highway Access
Yes
Road Access
Yes
Listing Agency:
Vision Commercial Real Estate - Grapevine
(817) 803-3287
Listed By:
Spencer George
(817) 668-6508
Source:
Moodyscre
Added: Feb 24, 2021
Changed: Aug 17
Last Checked: Aug 14 at 7:45AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Vision Commercial Real Estate - Grapevine
Investment Insights
Based on property information with market context.
Key Highlights
- 5,546 SF freestanding building
- Direct frontage on S Main St / Hwy 377
- Ample surface parking
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$92,055
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.75%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,841,100
$1.8M
Cap Rate 7%
$1,315,071
$1.3M
Cap Rate 9%
$1,022,833
$1.0M
Market Conditions
NOI Build-Up for 5,546 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$138.4K $24.96/SF
− Vacancy
−$6.9K −$1.25/SF
EGI
$131.5K $23.71/SF
− OpEx
−$39.5K −$7.11/SF
NOI
$92.1K $16.60/SF
Area
Denton County, TX
Vacancy
5.00%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,841,100
Cap Rate 7%
$1,315,071
Cap Rate 9%
$1,022,833
Alternative Uses
Best Use
Retail
$1.32M
$1.15M – $1.53M
NOI $92,055 @ 7.0% cap · market cap 5.75%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$77.56M
$67.86M – $90.48M
NOI $5,429,033 @ 7.0% cap · market cap 339.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
368
Businesses Nearby
23k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 55%
Shops & Services 43%
Beauty & Spa 1%
Arby's
Dining
5,657 visits/mo
0.4 miles
Exxon
Shops & Services
5,572 visits/mo
0.4 miles
Popeyes Louisiana Kitchen
Dining
5,496 visits/mo
0.4 miles
Valvoline Instant Oil Change
Shops & Services
2,443 visits/mo
0.3 miles
Schlotzsky's
Dining
1,631 visits/mo
0.4 miles
Demographics for 76248, TX
40,894
Population
14,749
Households
2.8
Avg Household Size
42
Median Age
60%
College-Educated
97%
High-School Grad
15.8 sq mi
ZIP Area
2,588
Density / Sq Mi
$169,391
Median Household Income
$77,224
Median Earnings
$1,979
Median Rent
$545,100
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
Where is this retail space located?
The property is located at 1337 S Main St Keller, TX.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 5,546 SF freestanding building; Direct frontage on S Main St / Hwy 377; Ample surface parking
